Senate Bill No. 104
Introduced By beck, devaney
By Request of the department of Commerce
A Bill for an Act entitled: "An Act authorizing the department of commerce to examine REVIEW the books and affairs of
bank holding companies; and amending section
32-1-220, MCA."
Be it enacted by the Legislature of the State of Montana:
Section 1. Section 32-1-220, MCA, is amended to read:
"32-1-220. Examination of ACCESS TO holding companies and affiliated entities. The division shall request
assistance from and cooperate with the federal reserve system in the examination may examine REVIEW the books and
affairs of A bank holding companies COMPANY OPERATING under the Bank Holding Company Act of 1956 in order to
resolve issues relating to the safety and soundness of banks under the jurisdiction of the division DURING THE COURSE
OF A REGULARLY SCHEDULED SAFETY AND SOUNDNESS EXAMINATION WHENEVER SERIOUS
REGULATORY CONCERNS ARISE THAT COULD JEOPARDIZE THE SAFETY AND SOUNDNESS OF THE
PARTICULAR SUBSIDIARY BEING EXAMINED. THE PURPOSE OF THE AUTHORITY GRANTED IN THIS
SECTION IS TO RESOLVE SERIOUS REGULATORY CONCERNS THAT ARISE DURING THE EXAMINATION
FROM BANK HOLDING COMPANY TRANSACTIONS WITH THE SUBSIDIARY BEING EXAMINED. THE
AUTHORITY GRANTED IN THIS SECTION DOES NOT AUTHORIZE A REVIEW OF THE HOLDING COMPANY
AS A STANDARD PROCEDURE WHEN THE DIVISION HAS NO SERIOUS REGULATORY CONCERNS OVER
TRANSACTIONS WITH THE SUBSIDIARY BEING EXAMINED."
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